Increase in Training and Development
Continued advances in state-of-the-art technology are requiring firms to spend more on employee training and development. No longer is this considered to be a one-shot deal, but rather it must be done on an annual basis. In 1997. for example, U.S. businesses budgeted more than $59.8 billion to provide formal training and development courses to over 49.6 million employees, or more than SI ,200 per employee.
In addition, the use of technology in the workplace has increasingly divided them workforce into the categories those whose jobs require ever-increasing skills and knowledge to operate the technology-oriented equipment and those whose jobs are becoming more menial as a result of this technology. Robotics and other forms of automation, for example, will continue to replace skilled workers on many assembly lines. Unless these workers receive additional training in managing, operating, and maintaining this high-technology equipment, they will have to settle for. work that has less skill requirements with correspondingly lower pay.